Chương I: Quy định chung

GOVERNMENT OF VIETNAM -------	SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom – Happiness ---------------
No. 96/2024/ND-CP	Hanoi, July 24, 2024

 

DECREE

ELABORATING CERTAIN ARTICLES OF THE LAW ON REAL ESTATE BUSINESS

Pursuant to the Law on Government Organization dated June 19, 2015 and the Law on Amendments to the Law on Government Organization and the Law on Local Government Organization dated November 22, 2019;

Pursuant to the Law on Real Property Business dated November 28, 2023;

Pursuant to the Law on Amendments to certain Articles of Land Law No. 31/2024/QH15, Housing Law No. 27/2023/QH15, Law on Real Estate Business No. 29/2023/QH15 and Law on Credit Institutions No. 32/2024/QH15 dated June 29, 2024;

At the request of the Minister of Construction;

The Government hereby promulgates a Decree elaborating certain Articles of the Law on Real Estate Business.

Chapter I

GENERAL PROVISIONS

Article 1. Scope

This Decree elaborates certain Articles of the Law on Real Estate Business dated November 28, 2023 (hereinafter referred to as "Law on Real Estate Business”), including:

1. Clause 2 and clause 3 of Article 5 on buildings used for education, healthcare, sports, culture, office, trade, service provision, tourism, accommodation or industrial purpose, and multipurpose buildings; on floor areas of the buildings. <0}

2. Article 6 on disclosure of information on real estate and real estate projects to be put on market.

3. Point b and point c clause 2, clause 3 and clause 4 of Article 9 on ratios of outstanding credit balance and outstanding bonds to the equity of a real estate enterprise; equity of a real estate enterprise; small-scale real estate business.

4. Clause 4 of Article 24 on notifying to the relevant provincial authority in charge of state management in terms of real estate business (hereinafter referred to as "provincial real estate authority”) of the conclusion that the housing is qualified for sale or lease purchase of the project developer.

5. Clause 7 of Article 31 on notifying to the relevant provincial real estate authority of the project developer’s rights to use land with existing technical infrastructure thereon within a real estate project that have met relevant conditions for transfer.

6. Article 42 on procedures for transfer of entire or partial real estate project.

7. Clause 1 Article 44 on types of standard form contracts used in real estate business.

8. Article 52 on procedures and documentation requirements for transfer of real estate business contracts.

9. Clause 3 of Article 54 on the requirement that a real estate trading floor must submit an application for an operating license to the real estate authority of the province where the trading floor is to be headquartered before operating it.

10. Article 55 on conditions for operating real estate trading floors.

11. Article 56 on operations of real estate trading floors.

12. Article 60 on managing operations of real estate trading floors.

13. Point b clause 1 of Article 61 on material and technical facilities that any organization or individual that wishes to provide real estate brokerage services must have.

14. Clause 3 of Article 70 on organization of exams and issuance of practicing certificate for real estate brokers.

15. Clause 1 of Article 79 on the authority of the Ministry of Construction to play the leading role and cooperate with Ministries, ministerial agencies, and provincial People's Committees in studying and proposing methods for regulating the real estate market as prescribed in Article 78 of the Law on Real Estate Business.

16. Foreign organizations, foreigners, and overseas Vietnamese that are not Vietnamese citizens are entitled to lease housing in accordance with regulations of the Housing Law.

Article 2. Regulated entities

1. Organizations and individuals engaged in real estate business in Vietnam.

2. Other authorities, organizations and individuals involved in real estate business in Vietnam.

Chapter II

EXISTING REAL ESTATE BUSINESS AND OFF-PLAN REAL ESTATE BUSINESS

Article 3. Types of buildings, floor areas of buildings put on market

1. Existing buildings and off-plan buildings put on market specified in clause 2 Article 5 of the Law on Real Estate Business shall be classified according to regulations of law on construction.

2. Floor areas of buildings put on market include:

a) Floor areas used for commercial purposes, including: commercial spaces, commercial lot and floor areas serving commercial purposes under other names;

b) Floor areas used for office purposes, including: offices, offices combined with accommodation and floor areas used for office purposes under other names;

c) Floor areas used for tourism and accommodation purposes, including: tourist apartments, accommodation apartments and floor areas used for tourism and accommodation purposes under other names;

d) Floor areas having mixed purposes and floor areas used for other purposes in the buildings specified in clause 2 Article 5 of the Law on Real Estate Business.

Article 4. Disclosure of information on real estate and real estate projects to be put on market

1. Time to disclose information: A real estate enterprise, before signing a contract for sale, transfer, lease, or lease purchase of real estate, or transfer of a real estate project, is responsible for fully disclosing information as prescribed in Article 6 of the Law on Real Estate Business.

2. The public information shall comply with the provisions of Clause 2, Clause 3, Clause 4 and Clause 5, Article 6 of the Law on Real Estate Business; The information in Point c Clause 2 and Points b and d Clause 3 Article 6 of the Law on Real Estate Business is the following documents:

a) Decision to approve the detailed planning or decision to approve the detailed planning under abridged procedures of a real estate project by a competent regulatory agency according to laws on construction and urban planning;

b) Notification of the results of appraisal of the construction investment feasibility study report or notification of the results of basic design appraisal by a competent regulatory agency according to construction laws;

c) Written commitment to issue guarantees specified in Clause 2, Article 26 of the Law on Real Estate Business by a domestic commercial bank or a foreign bank branch legally operating in Vietnam.

3. Methods and forms of information disclosure: The real estate enterprise must fully, honestly and accurately disclose information on a housing and real estate market information system in accordance with real estate business laws and on the enterprise’s website.

4. The disclosure of information on the housing and real estate market information system shall comply with the provisions of the Decree elaborating certain articles of the Law on Real Estate Business in terms of building and managing the information systems and databases on housing and real estate market.

5. The real estate enterprise is responsible for updating the disclosed information within 05 working days from the date on which the information is changed.

Article 5. Ratios of outstanding credit balance and outstanding bonds to the equity of a real estate enterprise

1. A real estate enterprise shall, based on the equity, investment and business plans, decide to apply for a loan from credit institutions, issue corporate bonds as well as the ratio of outstanding credit balance and outstanding bonds to the equity of the enterprise which must meet the following requirements:

a) It must satisfy the prudential financial ratios of the enterprise; comply with credit laws and corporate bond laws;

b) If the real estate enterprise applies for a loan from a credit institution or issues corporate bonds to execute a real estate project in which the enterprise has been approved by a competent regulatory agency to be an investor, the total outstanding debt of the loan granted by the credit institution, outstanding corporate bonds and the required equity for each project must not exceed 100% of the total investment of that project;

c) The total ratio of outstanding debt of the loan granted by the credit institution and outstanding corporate bonds for the project execution must not exceed 04 times the equity of the enterprise if the real estate project has a land use area of less than 20 hectares, and not exceed 5,67 times the equity of the enterprise if the real estate project has a land use area of 20 hectares or higher.

2. The equity of the real estate enterprise shall be determined as prescribed in clause 1 Article 6 of this Decree.

Article 6. Equity of real estate enterprises and total investment of real estate projects

1. The equity of a real estate enterprise shall, in case the real estate enterprise is chosen by a competent regulatory agency as an investor or chosen as a project developer executing a real estate project according to investment laws and auction laws; bidding laws, housing laws, urban development laws; recognized as a housing project developer according to housing laws, be determined on the basis of:

a) Results of the financial statement or another report in terms of the equity that has been audited during the year; In case there is no financial statement or equity report that has been audited during the year, the financial statement or equity report that was audited in the previous year shall be used according to enterprise laws, auditing laws, accounting laws;

b) The charter capital that has been contributed under enterprise laws, if the enterprise is established and has been operating for less than 12 months.

2. Total investment of a real estate project shall be determined according to investment laws.

Article 7. Small-scale real estate business; non-commercial real estate business and ultra-small scale real estate business

1. An individual that wishes to do small-scall real estate business must meet the following requirements:

a) He/she does not fall under the case where an investment project is required to be set up according to construction laws and housing laws;

b) The value of a contract does not exceed 300 billion VND and the number of transactions per year does not exceed 10. In case of 01 transaction per year, the value is not calculated.

2. An organization or individual that sells housing, building or its floor area for non-commercial purposes or conducts sale, lease or lease purchase of housing, building or its floor area of an ultra-small scale shall be:

a) An individual that does not fall under the case where an investment project is required to be set up according to construction laws and housing laws;

b) An organization that does not fall under the case where the value of a contract exceeds 300 billion VND and the number of transactions per year exceeds 10. In case of 01 transaction per year, the value is not calculated.

Article 8. Procedures for notifying that off-plan housing meets conditions for sale or lease purchase

1. Before signing a contract for sale or lease purchase of off-plan housing, the project developer must send a written notification to a real estate authority of a province where the project is carried out of the conclusion that the off-plan housing meets conditions for sale or lease purchase, enclosed with 01 application specified in Clause 2 of this Article.

The project developer's written notification must contain the contents specified in Appendix XV enclosed with this Decree.

2. The application includes copies and their originals which are required to be presented for comparison with the copies or valid electronic copies or certified true electronic copies of the following documents:

a) The documents as specified in clause 2 and points a and b clause 3 Article 24 of the Law on Real Estate Business;

b) A record of acceptance of completion of the project's technical infrastructure corresponding to the project schedule that is approved according to construction laws.

In the case of an apartment building or a mixed-use building with housing, a record of acceptance of completion of foundation according to construction laws.

3. In case the project developer of an investment project for housing construction has mortgaged an off-plan house or part or all of the project as collateral, the determination of the house to which a release of mortgage has been granted shall comply with the provisions of Clause 2 Article 183 of Housing Law No. 27/2023/QH15.

4. Within 15 days from the date on which the notification enclosed with the application specified in clause 1 and clause 2 of this Article is received, the provincial real estate authority shall inspect conditions of the off-plan house of the real estate project put on market according to the provisions of the Law on Real Estate Business and respond in writing that the house is qualified for sale or lease purchase to the project developer; or provide explanation if conditions for sale or lease purchase are not met; and post the written response on the web portal on housing and real estate market. The written response of the provincial real estate authority must contain the contents specified in Appendix XVI enclosed with this Decree.

If the provincial real estate authority does not respond within the prescribed period, the enterprise is entitled to file a lawsuit or lodge a complaint as prescribed by law.

Article 9. Procedures for notifying that land with existing technical infrastructure thereon within a real estate project meets relevant conditions for transfer to individuals for building their own housing

1. Before signing a contract for transfer of the rights to use land with existing technical infrastructure thereon within a real estate project to an individual for building their own housing, the project developer shall send a written notification that such land meets conditions for transfer of LURs to the individual for building their own housing enclosed with the application specified in clause 2 of this Article to the real estate authority of the province where the project is carried out.

2. The application includes copies and their originals which are required to be presented for comparison with the copies or valid electronic copies or certified true electronic copies of the following documents:

a) Investment guideline decision or investment guideline approval or investment approval of the real estate project by a competent regulatory agency as prescribed by laws on investment, construction and housing;

b) Decision to approve the detailed planning or decision to approve the detailed planning under abridged procedures of the real estate project by a competent regulatory agency according to laws on construction and urban planning;

c) Building permit, if a building permit by a competent regulatory agency is required according to construction laws;

d) Notification of the results of appraisal of the construction investment feasibility study report or notification of the results of basic design appraisal by the competent regulatory agency in accordance with construction laws;

dd) Documents concerning acceptance of completion of technical infrastructure as stipulated by construction laws;

e) Contract for providing electricity supply, water supply, drainage, waste collection, or wastewater treatment services;

g) Certificate of the rights to use the land area with existing technical infrastructure thereon within the real estate project that are transferred to the individual for building their own housing as stipulated by land laws.

3. Within 15 days from the date on which the written notification enclosed with the application specified in clause 1 and clause 2 of this Article is received, the provincial real estate authority shall inspect whether the land with existing technical infrastructure thereon within the real estate project meets conditions for transfer of LURs to the individual for building their own housing as stipulated by the Law on Real Estate Business and send a written response that the land meets conditions for transfer to the project developer, and provide explanation in case the conditions are not met; and post the written response on the web portal on housing and real estate market.

If the provincial real estate authority does not respond within the prescribed period, the enterprise is entitled to file a lawsuit or lodge a complaint as prescribed by law.

Chapter III

PROCEDURES FOR TRANSFER OF REAL ESTATE PROJECTS

Article 10. Procedures for transfer of all or part of real estate projects within the Prime Minister’s jurisdiction

1. The transfer of all or part of a real estate project within the Prime Minister’s jurisdiction shall comply with the provisions of clause 1 Article 42 of the Law on Real Estate Business.

2. The project developer shall submit 01 application, including copies and their originals which are required to be presented for comparison with the copies or valid electronic copies or certified true electronic copies of the documents specified in clause 3 and clause 4 of this Article to the People’s Committee of the province where the project is carried out or the provincial real estate authority authorized by the provincial People’s Committee.

3. Documents of the project developer making a transfer of the project:

a) The project developer's written request for permission to transfer all or part of the real estate project using the form in Appendix XII enclosed herewith;

b) Investment guideline decision or investment guideline approval or investment approval of the real estate project by a competent regulatory agency as prescribed by laws on investment, construction and housing;

c) Documents issued by competent regulatory agencies on investor selection and project developer selection as stipulated by laws on investment, auctions, bidding, housing and urban development; project developer decision or approval in case procedures for project developer recognition must be followed in accordance with laws on construction and housing;

d) Decision to approve the detailed planning or decision to approve the detailed planning under abridged procedures of the real estate project by a competent regulatory agency according to laws on construction and urban planning;

dd) Documents relating to land, including: Decision to allocate land, lease out land or grant permission for land repurposing for the project execution by a competent regulatory agency as stipulated by land laws. Minutes of on-site handover of land for project execution by a competent regulatory agency sent to the project developer in accordance with land laws;

e) In case the entire or partial real estate project is mortgaged, there must be documents showing that the mortgage has been released according to the provisions of law;

g) Documents showing the acceptance as stipulated by constructions laws of completion of technical infrastructure corresponding to the project schedule, design, detailed planning and project content that have been approved in case the entire investment project to build infrastructure is transferred;

h) Confirmation by a tax authority of the fact that the project developer has fulfilled financial obligations relating to land of the project to the State and receipts showing that the project developer has paid fees and charges related to land (if any) specified in clause 3 Article 40 of the Law on Real Estate Business;

i) Regarding a state-owned enterprise that transfers the entire or partial real estate project, it is required to have documents proving the compliance with laws on management and use of state capital invested in production and business at the enterprise;

k) Report on the real estate project execution up to the time of transfer using the form in Appendix XIII enclosed herewith;

l) Agreement on transfer of the entire or partial real estate project between the transferor and the transferee (if any).

4. Documents of the transferee include:

a) Enterprise registration certificate or investment registration certificate or documents proving the establishment in accordance with enterprise laws and investment laws;

b) Financial statement as prescribed in Point a, Clause 1, Article 6 of this Decree;

c) Written commitment to continue making investment in construction and business in accordance with the approved project content;

d) Documents proving compliance with the conditions prescribed in clause 5 Article 40 of the Law on Real Estate Business.

5. Within 45 days from the date of receipt of the valid application, the Provincial People's Committee shall have a consultation with the Ministry of Construction and relevant ministries, central authorities and agencies and organize the appraisal of the application for transfer according to the provisions of Clause 9 of this Article and submit the application to the Prime Minister for consideration and decision. The decision to grant permission for transfer shall be made using the form in Appendix XIV enclosed herewith.

Where the Prime Minister grants authorization to the provincial People’s Committee, the provincial People’s Committee shall, based on the opinions of the ministries and central authorities, consider making a decision to grant permission for transfer of the partial project.

6. Within 60 days from the date on which the decision to grant permission for transfer of the entire or partial real estate project is issued by a competent authority, the transferor and the transferee must complete:

a) the conclusion of the contract for transfer using the form in Appendix IX or Appendix X enclosed herewith. The contract for transfer of the entire or partial project is also the contract for disposition of rights to use land within the entire or partial project that is transferred, but where the land is leased with annual land rent payments, the disposition of LURs shall comply with land laws;

b) the handover of the entire or partial project that is transferred and the entire project dossier, and the partial project that is transferred from the transferor to the transferee; the handover between the transferor and transferee must be made in writing.

After 60 days, if the parties fail to complete the tasks specified in this clause and are not granted an extension by an authority competent to issue the decision to grant permission for transfer of the entire or partial real estate project, this decision will be invalid.

7. The transferee may carry on executing the entire or partial project after receiving it by handover and fulfilling the obligation to pay taxes, fees, and charges (if any).

8. The transferor and transferee of the entire or partial real estate project are responsible for following land registration procedures according to the provisions of land law.

9. Within 15 days from the date of receipt of the document and survey dossier from the Provincial People's Committee, the surveyed agencies shall give their opinions on the assigned content under the state management with regard to the contents specified in Article 4, Article 39 and Article 40 of the Law on Real Estate Business.

If the transferee that is a foreign-invested business organization as prescribed in Clause 4, Article 10 of the Law on Real Estate Business has the entire or partial real estate project that is transferred in the following areas: island; border communes, wards and commune-level towns; coastal communes, wards, commune-level towns and other areas that affect national defense and security according to the provisions of law on national defense and security, the People's Committee of the province where the project is carried out must consult with the Ministry of National Defense and the Ministry of Public Security on the assurance about national defense and security.

Article 11. Procedures for transfer of the entire or partial real estate projects within the provincial People’s Committees’ jurisdiction

1. The transfer of the entire or partial real estate project within the provincial People’s Committee’s jurisdiction shall comply with the provisions of clause 2 Article 42 of the Law on Real Estate Business.

2. The project developer shall submit 01 application, including copies and their originals which are required to be presented for comparison with the copies or valid electronic copies or certified true electronic copies of the documents specified in clause 3 and clause 4 Article 10 of this Decree to the provincial People’s Committee or the provincial real estate authority authorized by the provincial People’s Committee.

3. Within 30 days from the date of receipt of the valid application, the Provincial People's Committee shall have a consultation with relevant authorities of the province and organize the appraisal of the application for transfer according to the provisions of Clause 5 of this Article and consider making a decision. The decision to grant permission for transfer shall be made using the form in Appendix XIV enclosed herewith.

In case the provincial real estate authority is authorized by the provincial People’s Committee, within 30 days from the date of receipt of the valid application, the provincial real estate authority shall consult with relevant authorities of the province and organize the appraisal of the application for transfer according to the provisions of Clause 5 of this Article and submit the application to the provincial People’s Committee to consider making a decision.

4. The consultation on and appraisal of the application and decision to grant permission for transfer of the entire or partial real estate project shall comply with the provisions of clause 3 of this Article.

5. Within 15 days from the date of receipt of the document and survey dossier from the Provincial People's Committee or the provincial real estate authority, the surveyed agencies shall give their opinions on the assigned content under the state management with regard to the contents specified in Article 4, Article 39 and Article 40 of the Law on Real Estate Business.

If the transferee that is a foreign-invested business organization as prescribed in Clause 4, Article 10 of the Law on Real Estate Business has the entire or partial real estate project that is transferred in the following areas: island; border communes, wards and commune-level towns; coastal communes, wards, commune-level towns and other areas that affect national defense and security according to the provisions of law on national defense and security, the People's Committee of the province where the project is carried out must consult with the Ministry of National Defense and the Ministry of Public Security on the assurance about national defense and security.

6. After the decision to grant permission for transfer of the entire or partial real estate project is issued by the provincial People’s Committee, the parties shall comply with the provisions in clause 6, clause 7 and clause 8 Article 10 of this Decree.

Chapter IV

REAL ESTATE BUSINESS CONTRACTS

Article 12. Types of real estate business contracts

1. The real estate business contracts specified in Clause 1, Article 44 of the Law on Real Estate Business must be entered into and signed in accordance with the provisions of Clauses 2 and 3 of this Article.

2. Standard form contracts used in real estate business stipulated herein include:

a) Housing sale and purchase contract, housing lease purchase contract, using the form in Appendix I enclosed herewith;

b) Housing lease contract, using the form in Appendix II enclosed herewith;

c) Contract for sale and purchase or lease purchase of building used for tourism or accommodation purpose or its floor area, using the form in Appendix III enclosed herewith;

d) Contract for lease of building used for tourism or accommodation purpose, or its floor area, using the form in Appendix IV enclosed herewith;

dd) Contract for sale and purchase or lease purchase of building used for education, healthcare, sports, culture, office, trade, service provision or industrial purpose, or multipurpose building or its floor area, using the form in Appendix V enclosed herewith;

e) Contract for lease of building used for education, healthcare, sports, culture, office, trade, service provision or industrial purpose, or multipurpose building or its floor area, using the form in Appendix VI enclosed herewith;

g) Contract for transfer of rights to use land with existing technical infrastructure thereon within real estate project, using the form in Appendix VII enclosed herewith;

h) Contract for lease or sublease of rights to use land with existing technical infrastructure thereon within real estate project, using the form in Appendix VIII enclosed herewith;

i) Contract for transfer of the entire real estate project, using the form in Appendix IX enclosed herewith;

k) Contract for transfer of the partial real estate project, using the form in Appendix X enclosed herewith;

l) Contract for transfer of contract for sale and purchase or lease purchase of housing or building, using the form in Appendix XI enclosed herewith.

3. A real estate enterprise, when drawing up, signing and executing a standard form contract used in real estate business, must comply with the following rules:

a) It may only use the standard form contract after it is disclosed according to the provisions of Article 6 of the Law on Real Estate Business;

b) It must observe the inspection and supervision of the authority competent to manage real estate business in terms of implementation of regulations and rules on disclosure, use, creation, conclusion and execution of the standard form contract in real estate business according to the provisions of law on real estate business;

c) It is obliged to strictly comply with, and must not change, the contents of real estate business contracts enclosed with forms in the Appendices specified in Clause 2 of this Article. Any additional contents to the standard form contract (if permitted) must not violate the law, social ethics, not change or contradict the existing content of the standard form contract;

d) Any revision to the real estate contract that has been disclosed must also be disclosed in accordance with the provisions of Article 4 of this Decree before the contract is signed;

dd) In case a content of the real estate business contract signed by the enterprise with customers is inconsistent with the standard form contract, or not different from the standard form contract that was disclosed according to the provisions herein, or fails to comply with the rules specified in Clause 3 of this Article, the enterprise shall be handled in accordance with relevant laws and provide compensations for damage incurred by customers who have signed the contract due to the enterprise’s violations. Any dispute shall be resolved on the basis of the provisions of the Civil Code and relevant laws.

4. If the real estate business contract is signed according to real estate business laws through an electronic transaction and using digital signatures, electronic transaction laws shall be applied.

Article 13. Procedures and documentation requirements for transfer of real estate business contracts

1. The transfer of a real estate business contract shall comply with the provisions of the Law on Real Estate Business and this Decree.

2. Procedures and documentation requirements for transfer of the real estate business contract:

a) The transferor and the transferee reach an agreement on drawing up a contract for transfer of contract using the form in Appendix XI enclosed with this Decree.

The contract for transfer of contract must be executed in 08 originals (02 of which shall be kept by the project developer, 01 of which shall be submitted to a tax authority, 01 of which shall be submitted to the authority receiving the application for certificate, 02 of which shall be kept by the transferor, 02 of which shall be kept by the transferee); in case of notarizing the contract for transfer of contract, there must be 01 additional original to be kept at the notary practice organization;

b) One of the parties submits an application to a notary practice organization headquartered in the province or central-affiliated city to which the real estate belongs for certifying the contract for transfer of contract. The application to be notarized includes: Originals of the contract for transfer of contract; original of the first contract signed with the project developer, or original contract or appendices showing the transferred housing or building of the contract that has been signed with the project developer (in case of transferring one or several houses or buildings in the total houses and buildings that have been held under purchase or lease purchase contracts); documents proving the amount of money the transferor has paid to the project developer; original or certified true copy of the record of handover of housing and construction (if any) and other documents (if any) according to the provisions of law on notarization and authentication.

If the transferor is an enterprise licensed for real estate business, it is not obliged to notarize the contract for transfer of contract in accordance with the provisions of this point; except for the case where the parties wish to notarize their contracts;

c) After notarizing (excluding cases where the contract is not notarized) according to the provisions of point b of this clause, the transferor shall pay taxes, fees and charges related to the contract transfer in accordance with provisions of law on taxes, fees and charges;

d) After implementing the provisions of point c of this clause, one of the parties shall submit an application to the project developer for confirming the contract transfer; documents of the application include: 08 originals of the contract for transfer of contract enclosed with the original of the contract being transferred; or original contract or appendices showing the transferred housing or building of the contract that has been signed with the project developer (in case of transferring one or several houses or buildings in the total houses and buildings that have been held under purchase or lease purchase contracts); documents proving the payment or exemption or reduction of taxes in accordance with tax laws;

dd) Within 05 working days from the date of receipt of adequate documents as specified in point d of this clause, the real estate project developer shall inspect and confirm the contract for transfer of contract and not collect any fee. After confirming the contract for transfer of contract, the project developer retains 02 original contracts for transfer of contract and returns 06 original contracts for transfer of contract to the submitting party along with the documents received according to the provisions in point d of this clause;

e) From the date on which the contract for transfer of contract is confirmed by the project developer, the transferee shall carry on exercising the rights and obligations of the buyer or the tenant-buyer towards the project developer under the signed contract and contract for transfer of contract;

g) From the second contract transfer onwards, the transfer shall be made under the procedures prescribed in this Article, and the transferor shall submit adequate dossiers of the previous transfers when following procedures for transfer;

h) The transferee in the contract for transfer of the final signed contract according to the provisions of this Article shall be granted a certificate by a competent regulatory authority in accordance with the provisions of land law.

Chapter V

REAL ESTATE SERVICES

Section 1. real estate trading floor

Article 14. Registration of operation of real estate trading floors

1. Any organization or individual wishes to establish a real estate trading floor shall submit an application as prescribed in Clause 2 of this Article to the real estate authority of the province where the real estate trading floor is to be headquartered in person or via postal system or online to be granted an operating license.

2. The application for registration includes:

a) An application for registration of the real estate trading floor (using the form in Appendix XVII);

b) A certificate of enterprise registration as prescribed by clause 5 Article 9 of the Law on Real Estate Business;

c) Documents proving rights to use the headquarters of the real estate trading floor;

d) Copy of the certificate of completion of training course in management and operation of real estate trading floor of the manager or operator of the real estate trading floor;

dd) List of real estate brokers who have been granted practicing certificates for real estate brokers.

3. Within 15 working days from the date of receipt of adequate application, the provincial real estate authority shall check the application and grant an operating license to the real estate trading floor (using the form in Appendix XVIII); in case the application is rejected, a written notification with explanation for the rejection must be provided. After granting the operating license, the provincial real estate authority shall send a report to the Ministry of Construction for posting the information of the real estate trading floor on the web portal of the Ministry of Construction. Information of the real estate trading floor includes: Name of the real estate trading floor; name of enterprise establishing the real estate trading floor; full name of the manager or operator of the real estate trading floor; address and phone number of the real estate trading floor. If the name, headquarters’ address, legal representative, or another content in the application for registration is changed, within 10 working days from the date on which the decision on change is issued, the real estate trading floor must send a written request for reissuance of the certificate of registration to the real estate authority of the province where the real estate trading floor is registered

 

The provincial real estate authority shall send a report to the Ministry of Construction for management and updating of information.

Article 15. Conditions for operating real estate trading floors

1. A real estate trading floor to be operated must satisfy adequate conditions as specified in Article 55 of the Law on Real Estate Business.

2. The enterprise's legal representative and the real estate trading floor’s manager or operator must be responsible for the operations of the real estate trading floor. The enterprise's legal representative may be also the real estate trading floor’s manager or operator.

3. The real estate trading floor must have a specific name and address, and have been continuously operating for more than 12 months, and have technical equipment that meets the requirements according to the operations of the real estate trading floor.

4. The real estate trading floor is responsible for implementing anti-money laundering measures and submitting reports on anti-money laundering in accordance with anti-money laundering laws.

Article 16. Operations of real estate trading floors

1. A real estate trading floor shall be operated according to the contents specified in Article 56 of the Law on Real Estate Business.

2. The conduction of real estate transactions shall be certified as follows:

a) Real estate transactions conducted directly shall be certified in writing. If a real estate transaction is conducted through an electronic form, the electronic certification shall be made in accordance with the provisions of the Law on Electronic Transactions, e-commerce laws and relevant laws;

b) The written certification of real estate transaction must contain signatures of the enterprise representative that is the project developer or real estate owner, representative of the real estate trading floor and individual broker, and the enterprise's seal matching with to the transaction method.

Article 17. Managing operations of real estate trading floors

1. Provincial real estate authorities shall manage, supervise and inspect operations of real estate trading floors in accordance with the provisions of point a clause 1 Article 60 of the Law on Real Estate Business.

2. Issue licenses in accordance with the provisions of Article 14 of this Decree.

3. Reissue licenses to operate real estate trading floors:

a) A provincial real estate authority shall reissue an operating license in case the license is lost, torn, burned, or destroyed in other forms by request of a real estate trading floor or the information of the floor is changed according to the provisions of Clause 3, Article 14 of this Decree;

b) The real estate trading floor must submit an application to the real estate authority of the province where the operating license is issued in person or via postal system or online for reissuance of the operating license. The application for reissuance of the operating license includes: A written request for reissuance of the operating license (using the form in Appendix XIX); the operating license (if it is destroyed);

c) The provincial real estate authority, after receiving the valid application, shall check the application and reissue the operating license (using the form in Appendix XX) within 05 working days. The license number of the reissued operating license shall also be the license number of the original license to remain linking the application and data.

In case of rejection of reissuance, the provincial real estate authority shall have a written notification with explanation for the rejection.

4. Revoke licenses or terminate operations of real estate trading floors

A provincial real estate authority shall issue a decision to revoke a license, terminate operations of a real estate trading floor in the following cases:

a) The real estate trading floor violates the provisions in Article 8 of the Law on Real Estate Business and relevant laws. Within 07 working days from the date on which the operating license is revoked, the provincial real estate authority shall send a written notification of the revocation of the operating license to the Ministry of Construction and the tax authority in the province where the real estate trading floor is registered.

Within 60 days from the date on which the operating license is revoked, the real estate trading floor must fully pay the outstanding tax amount; complete payment of other debts; complete procedures for terminating contracts signed with employees; for service contracts signed with customers but not yet completely executed, agreements on the execution of the service contracts must be reached with such customers.

b) If the real estate trading floor undergoes self-termination of its operations, within 30 days to the scheduled date on which the floor’s operation is terminated, the real estate trading floor must send a written notice to the real estate authority and the tax authority in the province where the real estate trading floor is registered. Within 07 working days from the date on which the written notice of termination of operations of the real estate trading floor is received, the provincial real estate authority shall notify in writing to the Ministry of Construction.

Before the date of termination of operation, the real estate trading floor must fully pay the outstanding tax amount; complete payment of other debts; complete procedures for terminating contracts signed with employees of the real estate trading floor; complete service contracts signed with customers. If the real estate trading floor cannot completely execute service contracts signed with customers, it must reach agreements on execution of such service contracts with the customers.

5. Suspend operations of real estate trading floors

a) A provincial real estate authority shall issue a decision to suspend operations of a real estate trading floor in case the real estate trading floor fails to meet conditions for operation according to provisions of law or the floor undergoes self-suspension of its operations;

b) In case the real estate trading floor undergoes self-suspension of its operations, the floor must send a written report on suspension and resumption of its operations to the real estate authority of the province, tax authorities and statistical authorities in the area where the real estate trading floor is registered and the area where the real estate trading floor is headquartered within 10 working days from the date of suspension or resumption. The suspension period must be within 02 years;

c) Within 07 working days from the date on which the decision to suspend operations of the real estate trading floor, the provincial real estate authority shall send a written notice of suspension of operations of the real estate trading floor to the Ministry of Construction and the tax authority in the area where the real estate trading floor is registered;

d) The report on suspension of operations of the floor includes the following main contents: Name of the real estate trading floor; number, date of issuance of the operating license; headquarters address; suspension period, start date and end date of the suspension period; reason for suspension of operations; report on debt payment, settlement of service contracts with customers and contracts signed with brokers and employees working at the real estate trading floor.

dd) During the suspension period, the real estate trading floor must fully pay outstanding tax amount, carry on paying other debts, completely execute contracts signed with brokers and employees, unless otherwise agreed.

If the real estate trading floor fails to completely execute service contracts signed with customers, it must reach agreements on execution of such service contracts with the customers.

Section 2. Regulations on real estate brokers and grant of practicing certificates for real estate brokers

Article 18. Requirements for enterprises wishing to provide real estate services (real estate service enterprises) in terms of physical and technical facilities

Real estate service enterprises must have physical and technical facilities suitable to operations of real estate service enterprises.

1. Physical facilities of an enterprise are its premises which have specific names and addresses and have been continuously operating for more than 12 months.

2. Technical facilities of an enterprise are a system of machinery and equipment serving its operations.

Article 19. Organization of exams and issuance of practicing certificates for real estate brokers

1. The People’s Committees of provinces and central-affiliated cities (hereinafter referred to “the provincial People’s Committees”) shall organize exams and issue certificates.

2. The real estate authority of a province shall receive application forms for examination of candidates (using the form in Appendix XXI enclosed herewith) and send an application for the exam to the provincial People’s Committee; and then the provincial People’s Committee shall base on the number of candidates registered to take the exam and actual situations to organize the exam.

3. Each year, the People's Committee of a province or city is responsible for organizing at least 01 exam, depending on the number of candidates registered to take the exam (an exam must have at least 10 candidates).

In case there are fewer than 10 candidates and any of the candidates who have submitted applications wishes to take the exam at the Examination Council of another province, the Provincial People's Committee will prepare an official dispatch on sending that candidate to the People's Committee of another province or city to take the exam.

4. At least 30 days before the exam is organized, the Provincial People's Committee is responsible for announcing the exam organization plan, conditions, applications for exam, time, location and other necessary information related to the exam on the Provincial People's Committee's website.

5. Exam fees:

a) Candidates must pay exam fees to the Provincial People's Committee or as announced by the Provincial People's Committee;

b) Exam fee rates will be set by the Chairperson of the Provincial People's Committee for each exam, depending on the number of candidates registered to take the exam, to cover the costs of organization of the exam, on the basis of proposal of the Chairperson of the Examination Council;

c) The Examination Council is allowed to use exam fees to pay for activities relating to the exam organization and remuneration for members of the Examination Council. Payment and final settlement of exam fees must be approved by the Chairperson of the Examination Council.

Article 20. Examination councils for issuance of practicing certificates for real estate brokers (hereinafter referred to as “examination councils”)

1. An Examination Council is established by the decision of the Chairperson of the People's Committee of a province for an exam. The Examination Council has 5 or more members, including:

a) The Chairperson of the examination council who is the leader of the provincial People’s Committee;

b) The Vice Chairperson of the Examination Council who is the leader of the provincial real estate authority;

c) Members of the Examination Council who are proposed by the leader of the provincial real estate authority, including: Representative of the provincial real estate authority; Representative of the Real Estate Association (if any), representative of the Association of Real Estate Brokers (if any), lecturers of training institutions serving the purposes of training and fostering practice-based knowledge for real estate brokers (if any); Real estate brokerage experts of real estate brokerage enterprises, real estate trading floors (if any) or other experts (if any).

2. The exam council is responsible for directing and urging the organization of the exam according to plan and provisions of law.

3. Powers and responsibilities of the Chairperson of the Examination Council:

a) Submit the exam organization plan, exam regulations, exam questions and answers to the Provincial People's Committee for approval;

b) Consider the estimated costs for organizing the exam and the exam fees payable by candidates, and then submit them to the Chairperson of the Provincial People's Committee for approval;

c) Approve exam results including list of successful candidates and list of unsuccessful candidates;

d) Report the process of organizing the exam to the Chairperson of the Provincial People's Committee;

dd) Directly direct the process of organizing the exam and be responsible to the Chairperson of the Provincial People's Committee and the law for the results of the exam organization;

e) Approve the final settlement of costs for organizing the exam.

4. Members of the Examination Council must directly participate in all activities of the exam, be assigned tasks by the Chairperson of the Examination Council, receive remuneration and be responsible to the Chairperson of the Examination Council for their assigned tasks.

Article 21. Duties and entitlements of the examination council

1. Promulgate the exam organization plan and decide on adjustments to the plan in case of necessity; promulgate exam regulations and documents related to the exam; organize the compilation of exam questions and answers for exam subjects for the exam according to the instructions of this Decree.

2. Make an estimate of the cost of organizing the exam and estimate the collection rate of exam fees from candidates in a manner that ensures sufficient costs for the exam and the State's policies.

3. Organize reception, check documents, make a list of qualified candidates and unqualified candidates.

4. Organize the exam, proctor the exam, mark the exam papers, and review the exam results according to regulations for candidates who request a review under the direction of the Chairperson of the Examination Council according to the plan approved by the Provincial People’s Committee; make a summary of the exam results, including: report on the exam organization process; list of successful candidates and list of unsuccessful candidates.

Article 22. Exam content and exam questions

1. Candidates taking the exam to receive a certificate must compulsorily take the following exams, except for the cases specified in Clause 2 of this Article:

a) Basic knowledge, including: Laws related to real estate business; laws related to land; investment laws; Civil laws related to real estate business; notarization laws related to real estate business; corporate laws related to real estate business; laws on taxes and fees in real estate transactions; laws on anti-money laundering in real estate business; laws on handling of administrative violations related to real estate business; general overview of the real estate market; real estate prices and real estate price consulting;

b) Professional knowledge, including: Overview of real estate brokerage services; real estate brokerage process and skills; resolution of real-life situations.

2. For candidates with a unexpired foreign-issued practicing certificate for real estate broker, they only have to take the basic knowledge exam, not the professional knowledge exam.

3. The exam set must be consistent with the content of the framework program for training in real estate brokerage issued by the Ministry of Construction.

4. The exam set must be treated as confidential documents.

Article 23. Format, time and language of the exam

1. Format and time of the exam:

a) Basic knowledge exam includes: Written exam, multiple choice exam or both of them. The exam time is 120 minutes;

b) Professional knowledge exam includes: Written exam, multiple choice exam or both of them. The exam time is 120 minutes.

2. The language used for the exam is Vietnamese (candidates who are foreigners can have their interpreters).

Article 24. Eligible candidates

Eligible candidates include: Vietnamese citizens, Vietnamese residing abroad according to the provisions of law on nationality and foreigners who are eligible to take the exam as prescribed in Article 25 and Article 26 of this Decree.

Article 25. Qualification for exam

In order to be qualified for taking the exam, a candidate must meet the following requirements:

1. Has full civil capacity and is not facing any criminal prosecution or serving prison sentence.

2. Possesses an upper secondary school’s graduation diploma or higher.

3. Has a certificate of completion of training in real estate brokerage.

4. Has submitted the application for exam and paid the exam fee to the provincial People’s Committee.

Article 26. Exam application

An exam application includes:

1. 01 exam application form with a 4x6 photo taken within the last 06 months (using the form in Appendix XXI of this Decree).

2. 01 certified true copy of ID card (old type) or Citizen ID card or ID card (new type) according to identification laws; documents proving Vietnamese nationality or confirmation of Vietnamese origin according to the provisions of law on nationality or passport (or a copy with the original for comparison).

3. 01 authenticated copy of Certificate of completion of training practice-based knowledge for real estate broker.

4. Certified true copy of secondary school’s graduation diploma (or equivalent) or higher.

5. 02 4x6 photos taken within the last 06 months, 02 stamped envelopes clearly stating the recipient's full name, phone number, and address.

6. Certified true copy and translation of foreign-issued certificate (for foreigners and Vietnamese with a unexpired foreign-issued practicing certificate for real estate broker).

Article 27. Exam registration

1. People who need a certificate can register to take an exam nationwide.

2. Every year, people who need a certificate submit an exam application form according to the provisions of Clause 3, Article 19 of this Decree.

3. Before each exam, a candidate directly submits 01 exam registration dossier as prescribed in Article 26 and the exam fee as prescribed in Point a, Clause 5, Article 19 of this Decree. Time and location for submitting the dossier is provided as notified by the Provincial People's Committee.

Article 28. Criteria for passing

1. A candidate is passed if he/she:

a) scores at least 70/100 points for the basic knowledge part;

b) scores at least 70/100 points for the professional knowledge part;

2. Candidates who pass the exam as prescribed in Clause 1 of this Article will receive a certificate.

Article 29. Approval and announcement of exam results

1. The Chairperson of an Examination Council shall base on the exam results of each exam part to approve the exam results for each exam.

2. The exam results are announced at the Provincial People's Committee and on its website.

3. If any candidate requests re-marking, he/she must submit a written request to the Provincial People's Committee within 10 days from the announcement of exam results or another period as announced by the Provincial People's Committee. The Examination Council organizes re-marking and sends a report to the Chairperson of the Provincial People's Committee for approving additional qualified candidates.

4. Within 20 days from the announcement of exam results, the Provincial People's Committee will organize re-exams for unqualified candidates. These unsuccessful candidates only need to retake the failed parts of their exams. Each exam can only be retaken once, and candidates do not have to pay retake fees.

Article 30. Document storage

1. The Provincial People's Committee is responsible for preserving records and documents related to each exam:

a) within 5 years: Records related to the organization of the exam (Decision to establish the Examination Council; exam regulations; exam questions and answers for each exam subject; list of exam proctors and other related documents and materials); records related to exam marking: List of candidates, list of examiners; candidates' exam papers; profiles of qualified candidates; summary table of exam results, summary table of re-marking results (if any) for each exam subject;

b) within 03 years (for profiles of unsuccessful candidates and candidates who register but do not participate in the exam).

2. The Provincial People's Committee stores profiles of certified individuals for a period of 10 years from the date of issuance of certificate.

Article 31. Issuance of practicing certificates for real estate brokers

1. Candidates who have passed the exams as prescribed in Article 28 and have submitted adequate documents as prescribed in Article 26 of this Decree will be issued a certificate.

2. Certificate issuance process:

a) The Chairperson of the Examination Council shall send a report on the exam organization process to the Chairperson of the Provincial People’s Committee and approve exam results;

b) Based on the report made and the exam results approved by the Chairperson of the Examination Council, the Chairperson of the Provincial People’s Committee shall approve the list of certified individuals (using the form in Appendix XXII of this Decree). Within 10 working days from the date of receipt of valid applications, the provincial People’s Committee shall print, sign and then issue certificates;

c) The Provincial People’s Committees shall keep applications of certified individuals as prescribed in clause 2 Article 30 of this Decree.

3. The certified individuals shall pay certificate issuance fees according to the provisions of law on fees and charges in person at the Provincial People's Committee or in another form as notified by the Provincial People's Committee.

4. The certificates shall be valid for use nationwide for a period of 5 years from the date of issue.

5. The certificate form shall be as prescribed in Appendix XXIII of this Decree.

6. The certificates are given to the certified individuals in the provincial People’s Committee or in other places as notified by the provincial People’s Committee. If a certified person does not come to receive his/her certificate in person, it will be sent by post.

7. A certified person must comply with the following regulations:

a) Do not edit or erase the content of the certificate;

b) Do not lease, lend or let other organizations or individuals use the certified person’s name and certificate to carry out activities related to real estate brokerage;

c) Do not use the certificate for other purposes not prescribed by law.

8. Quarterly (before the 15^th day of the first month of the quarter following the reporting quarter), the Provincial People's Committee is responsible for reporting the exam organization and the list of certified individuals to the Ministry of Construction according to the provisions of the Decree elaborating the Law on Real Estate Business in terms of building and managing information systems and databases on housing and real estate markets; and updating the list of certified candidates on the website of the Provincial People's Committee (using the form in Appendix XXVI of this Decree).

9. Any certificate that is lost, torn, burned, or destroyed due to natural disasters or other force majeure reasons will be reissued. The certificate number shall be the original certificate number (according to the form in Appendix XXIV). The certificate period shall be 05 years from the date of initial issuance. Any applicant for re-issuance of certificate shall pay a certificate reissuance fee according to the provisions of law on fees and charges to the Provincial People's Committee. An application for reissuance of certificate submitted to the Provincial People’s Committee which has issued the certificate includes:

a) An application form for reissuance of certificate with a photo thereon (using the form in Appendix XXVII);

b) 02 4x6 photos taken within 06 months before the date of submission of the application;

c) The original certificate (if any).

Within 10 working days from the date of receipt of a sufficient application as prescribed in Clause 9 of this Article, the Provincial People's Committee which issued the original certificate is responsible for re-checking the application and re-issuing the certificate.

Article 32. Regulations on expired certificates

1. A person whose certificate has expired is not allowed to continue practicing as a real estate broker.

2. If a person who has an expired or nearly expired certificate wishes to re-issue his/her certificate, he/she must take an exam according to the following regulations:

a) In case he/she registered for the exam again in the local authority which has issued the original certificate, he/she only have to take the basic knowledge exam as prescribed in this Decree to be granted a certificate with the original certificate number. This must be stated on page 01 of the reissued certificate (according to the form in Appendix XXV of this Decree);

b) In case he/she registered for the exam in another local authority, he/she must follow the same examination procedures as those for issuance of a new certificate but only have to take the basic knowledge exam.

3. An exam application includes:

a) The dossier specified in Article 26 herein;

b) The original certificate (if the certificate is expired), or a certified true copy of the existing certificate (if the certificate is unexpired).

4. The exam registration shall comply with the provisions of Article 27 of this Decree.

5. The Provincial People's Committee shall decide whether to organize a separate exam for people applying for reissuance of expired certificates, or organize an exam for both people applying for reissuance of expired certificates and issuance of new certificates.

Article 33. Revocation of practicing certificates for real estate brokers

1. Certificate holders will have their certificates revoked in the following cases:

a) They have become incapacitated;

b) Their statements in their applications for certificate issuance are untruthful;

c) Their certificates are erased or modified;

d) They lend or rent their certificates to others to serve the practicing purpose;

dd) They violate the provisions of Article 8 of the Law on Real Estate Business.

2. Certificates issued by the People's Committee of any province or city shall be revoked by the People's Committee of that province or city; In case a certificate is revoked by another competent authority according to the provisions of law, this authority must notify in writing the People's Committee of the province or city that issued the certificate to comply with the provisions of Clause 3 of this Article.

3. After a decision to revoke a certificate is issued, the Provincial People's Committee that issued the certificate shall notify the person whose certificate was revoked to return the certificate. At the same time, the Provincial People's Committee will notify the name of the person whose certificate was revoked on its website and delete the name of the certificate holder on the website.

Chapter VI

REGULATION OF THE REAL ESTATE MARKET

Article 34. Assessment of the real estate market situation as a basis for proposals to regulate the real estate market

1. The Ministry of Construction shall, following the direction of the Government or based on the price index, the number of real estate transactions and socio-economic indicators and statistics of other industries and fields related to the real estate market, evaluate the real estate market situation and propose implementation of real estate market regulation.

2. Research and consolidation of market performance reports and propose measures to regulate the real estate market shall be carried out when the real estate transaction price index fluctuates by more than 20% in 3 months; or the real estate market has other fluctuations affecting socio-economic stability.

Article 35. Proposing measures to regulate the real estate market

1. According to the provisions of Clause 2, Article 34, within 15 days, the Ministry of Construction shall take charge and cooperate with ministries, ministerial agencies, and provincial People's Committees in compiling market performance reports and proposing measures to regulate the real estate market to be submitted to the Government for consideration and decision, including the contents specified in Clauses 2, 3, 4, 5, 6 and 7 of this Article.

2. The Ministry of Construction shall propose measures to regulate the real estate market related to legal policies on urban planning, construction planning, housing planning, and real estate business planning; on urban development programs and plans, programs and plans for development of housing and real estate; on real estate product structure.

3. The Ministry of Planning and Investment shall propose measures to regulate the real estate market related to legal policies on investment and bidding.

4. The Ministry of Natural Resources and Environment shall propose measures to regulate the real estate market related to legal policies on land.

5. The Ministry of Finance shall propose measures to regulate the real estate market related to legal policies on taxes, finance, securities, and corporate bonds.

6. The State Bank of Vietnam shall propose measures to regulate the real estate market related to legal policies on credit.

7. The Provincial People's Committees shall review the implementation of real estate projects of provinces and enterprises, and propose measures to regulate the real estate market in their provinces.

Article 36. Submitting measures to regulate the real estate market to competent authorities for decision

1. The Ministry of Construction shall prepare consolidated market performance reports and propose measures to regulate the real estate market, and submit them to the Government for consideration and decision.

2. In case measures to regulate the real estate market exceed the Government's authority, the Ministry of Construction shall send reports to the Government which will submit them to the National Assembly and the Standing Committee of National Assembly for consideration and decision.

Article 37. Implementing real estate market regulation

1. The Ministry of Construction shall take charge and cooperate with ministries, ministerial agencies, and provincial People's Committees in implementing measures to regulate the real estate market according to the decisions of the competent authorities specified in Clause 2 and clause 3 Article 79 of the Law on Real Estate Business.

2. Regulating the real estate market in a manner that ensures supply and demand and real estate product structure, and is appropriate to each stage of the market is also done through the preparation, submission for approval and implementation of land use planning and plans, construction planning, urban and housing development programs and plans.

Chapter VII

IMPLEMENTATION PROVISIONS

Article 38. Transitional actions

1. Any practicing certificate for real estate broker issued before the effective date of the Law on Real Estate Business will continue to be used according to the term on the Certificate. In case by the effective date of this Decree it has expired or if the broker applies for a new one, the provisions of this Decree must be followed.

2. For a real estate project for which the Provincial People's Committee has issued a written approval or permission to the project developer to sell subdivisions of land with existing technical infrastructure to individuals building their own houses according to the provisions of law before the effective date of the Law on Real Estate Business, the documents issued by the Provincial People's Committee shall continue to be applied in a manner that meets the provisions of Article 28, Article 29, Clause 1, Clause 2, Clause 3, Clause 4, Clause 5, Clause 7 and Clause 8, Article 31, Article 32 of the Law on Real Estate Business and Article 9 of this Decree.

In case the project developer has submitted an application for permission to sell subdivisions of land with existing technical infrastructure to individuals to build their own houses before the effective date of this Law but the competent regulatory agency has not yet issued any written permission, the project developer is responsible for supplementing their application according to the provisions of the Law on Real Estate Business and this Decree (if any) to be considered by the competent regulatory agency.

3. Clause 1 of Article 5 of this Decree does not apply to outstanding debts of loans granted by credit institutions and outstanding corporate bonds issued by real estate project developers before the effective date of this Decree. In case an outstanding debt of loan granted by a credit institution or outstanding corporate bond issued by the project developer of a real estate project before the effective date of this Decree exceeds those specified in Clause 1, Article 5 of this Decree, the project developer is only allowed to raise capital by taking loans from credit institution or issuance of corporate bonds to implement the project when they meet the provisions in Clause 1, Article 5 of this Decree.

4. Point b, Clause 1 and Point b, Clause 2, Article 7 of this Decree do not apply to individuals and organizations that have signed contracts for trade and receipt of real estate by transfer, including off-plan real estate in real estate projects, before this Decree takes effect.

5. It is allowed to carry on business of houses and buildings within a real estate project that has been approved by a competent regulatory agency according to the provisions of law before the effective date of the Law on Real Estate Business according to the content and objectives of the approved project; the project is not required to meet the conditions for off-plan houses and buildings to be put into business according to the provisions of Clause 5, Article 24 of the Law on Real Estate Business.

In case the project's investment guidelines are adjusted according to the provisions of law after the effective date of the Law on Real Estate Business, the investment guidelines of the project to which adjustments are approved will be applied.

6. Commercial housing purchase and sale contracts that have been transferred according to the provisions of housing law before the effective date of the Real Estate Business Law may carry on being transferred. The procedures for transferring these contracts shall comply with the provisions of Article 13 of this Decree.

Article 39. Implementation

1. The Ministry of Construction shall:

a) Guide, monitor and urge the implementation of the provisions of the Law on Real Estate Business and this Decree;

b) Take charge and cooperate with relevant agencies in studying and promulgating legislative documents on real estate business under their jurisdiction or submitting them to the competent authorities for promulgation;

c) Take charge and cooperate with relevant agencies in inspecting and handling violations against regulations on real estate business as prescribed by law;

d) Study and develop a real estate transaction price index suitable to the conditions and ability to collect, compile, and summarize data on housing and real estate markets in each period;

dd) Perform other tasks specified in the Law on Real Estate Business, this Decree or assigned by the Government and the Prime Minister.

2. The Ministry of Finance shall formulate regulations and guidelines on implementation of regulations on taxes, fees and charges related to the real estate business.

3. Ministries and central authorities are responsible for guiding, urging and implementing the provisions of the Law on Real Estate Business and this Decree within the scope of their functions and assigned tasks.

4. The People's Committees of provinces or central-affiliated cities shall:

a) Organize and direct the implementation of the provisions of the Law on Real Estate Business and this Decree in their provinces or cities;

b) Identify areas where real estate project developers are allowed to transfer land use rights with technical infrastructure for individuals to build their own houses according to the provisions of Clause 6, Article 31 of the Law on Real Estate Business ;

c) Decide permission to transfer the entire or partial real estate projects according to the provisions of the Law on Real Estate Business and this Decree. Take charge of appraising and submitting applications for transfer of the entire or partial real estate projects under the Prime Minister's authority to permit transfer, except in cases where the Prime Minister authorizes the People's Committees to decide transfer of partial real estate projects;

d) Organize or direct the implementation of inspection, examination and handling of violations against regulations on real estate business within their jurisdiction and according to the provisions of law;

d) Report the real estate market situation in their provinces to the Ministry of Construction every 3 months and according to the provisions of the Decree elaborating certain articles of the Law on Real Estate Business in terms of construction and management information system, database on housing and real estate market or upon unexpected request for the Ministry of Construction to synthesize and report to the Government and Prime Minister;

e) Direct and organize the receipt and settlement of administrative procedures in electronic means within their jurisdiction on the public service portals of provinces in compliance with the provisions of law on following administrative procedures in electronic means;

g) Perform other tasks specified in the Law on Real Estate Business, this Decree or assigned by the Government and the Prime Minister.

Article 40. Effects

1. This Decree comes into force from August 01, 2024.

2. After this Decree comes into force, the Government's Decree No. 02/2022/ND-CP dated January 06, 2022 on elaborating the Law on Real Estate Business shall expire.

3. Clause 7, Article 4 of Decree No. 11/2013/ND-CP dated January 14, 2013 of the Government on urban development investment management, which has been amended by Clause 4, Article 4, Decree No. 35 /2023/ND-CP dated June 20, 2023 of the Government amending and supplementing certain articles of decrees in the state management sector of the Ministry of Construction shall be annulled.

4. If certain contents of Government’s Decrees, the Prime Minister’s Decisions, and legal documents issued by Ministries, central authorities, and Provincial People's Committees before the effective date of this Decree are regulated by this Decree but are different from the provisions of this Decree, the provisions of this Decree shall be applied.

5. In case a Vietnamese citizen has been granted a personal identification number, and the national population database, databases on investment registration and business registration have been connected and operated, he/she is allowed to use his/her personal identification number instead of documents related to personal identity (ID card (old type), Citizen ID card, ID card (new type), Passport and other personal identification documents as prescribed by relevant law) when following procedures related to real estate business activities according to the provisions of law on real estate business.

Ministers, Heads of ministerial agencies, Heads of Governmental agencies, Chairpersons of the People's Committees of provinces and central-affiliated cities are responsible for implementation of this Decree.

 

ON BEHALF OF GOVERNMENT OF VIETNAM PP. PRIME MINISTER DEPUTY PRIME MINISTER Tran Hong Ha

 

APPENDIX VIII

CONTRACT FOR LEASE OR SUBLEASE OF RIGHTS TO USE LAND WITH EXISTING INFRASTRUCTURE WITHIN REAL ESTATE PROJECT
(Enclosed with the Government’s Decree No. 96/2024/ND-CP dated July 24, 2024)

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
---------------

....., [date]………………..

CONTRACT FOR LEASE OR SUBLEASE OF RIGHTS TO USE LAND WITH EXISTING INFRASTRUCTURE WITHIN REAL ESTATE PROJECT

No ……/…….

Pursuant to the Civil Code dated November 24, 2015;

Pursuant to the Law on Real Estate Business dated November 28, 2023;

Pursuant to the Government's Decree No. ……../…/ND-CP dated…… on elaboration of the Law on Real Estate Business;

Pursuant to the Government's Decree No. ……../…/ND-CP dated…… on elaboration of the Law on Land;

Pursuant to other legal bases¹.................................................................................................

We are:

I. LESSOR (SUBLESSOR) OF RIGHTS TO USE LAND WITH EXISTING INFRASTRUCTURE WITHIN REAL ESTATE PROJECT

(hereinafter referred to as “Lessor”)

- Organization’s name: ............................................................................................................

- Certificate of enterprise registration/certificate of investment registration No. ...............

- Legal representative: ………………………….. Position: ..............................

 (Or the authorized representative under the letter of authorization No….. (if any). 9-digit ID card/Citizen ID card/ID card according to regulations of the law on identification or passport No. ………………….Date of issue: ……./……./……., at……………………………….)

- Address: .....................................................................................................................

- Phone number: ..........................................  Fax: ..................................................

- Account number: .................................. At (bank): ..................................

- TIN: ...............................................................................................................

II. LESSEE (SUBLESSEE) OF RIGHTS TO USE LAND WITH EXISTING INFRASTRUCTURE WITHIN REAL ESTATE PROJECT

(hereinafter referred to as “Lessee”)

- Name of organization/individual² : ............................................................................................................

- 9-digit ID card/Citizen ID card/ID card according to regulations of the law on identification or passport³ No. ………………….Date of issue: ……./……./……., at……………………………….)

- Registered residence: ...................................................................................................

- Address: .....................................................................................................................

- Phone number: .......................................... Fax (if any) ............................................

- Account number (if any): .................................. At (bank): ..................................

- TIN (if any): ...............................................................................................................

We hereby reach a consensus on the lease of land use rights with the following terms and conditions:

Article 1. Land area for lease (sublease)

1. Details about the land lot:

- - Area: .........…………./………m²  (In words: ........................)

- Address: .....................................................................................................................

- Land lot No. .......................................................................................

- Map No. .......................................................................................

- Methods of use:

+ Private area:  .........………………. m²;

+ Common area:  .........………………. m²;

- Purposes: .......................................................................................

- Land use term: .......................................................................................

- Origin: ....................................................................................

- Restrictions on land use rights (if any): .....................................................

2. Construction-related criteria of land lot (if any):

- Density: .....................................................................................................

- Number of stories of building: ........................................................................

- Maximum height of building: ........................................................................

- Other criteria according to the approved planning: ...........................................................

3. Other details: ........................................................................................

Article 2. Land rent

1. Land use right rent:  ..............VND ……… (In words: ...............).

(The parties may agree that the land use right rent may be charged by m² or by the entire land area)

This rent includes the land use right value, VAT (if the lessor is subject to VAT payment)

2. The rent specified in clause 1 hereof excludes the followings: (The parties agree and specify them in the contract)……………….

Article 3. Payment methods

1. Payment methods: payment in VND, in cash, via bank or other methods as per the law.

2. Time limit for payment: (The parties specifically agree the time schedule for payment of the rent)

...................................................................................................................................

3. Other agreements (if any): (these agreements may not go against the law and morality)………..

Article 4. Purposes

(The parties specify the land use purposes of the Lessee) ……………….

Article 5. Lease term, deadline for handover

1. Lease term: ............................................ months (or years)

2. Lease term beginning from: ...............................................

3. Extension of lease term: .............................................................

4. Actions taken when the land lease contract expires: ....................................................

5. Deadline for handover of land: ......................................................................................

6. Legal documents on land: ............................................................................................

(The parties shall agree conditions, procedures for handover of land, and enclosed documents on rental land use rights).

7. Other agreements of the parties (if any): (these agreements may not go against the law and morality) ........................................................................................................................

Article 6. Rights and obligations of Lessor

1. Rights of Lessor

a) Request the Lessee to use the land for proper purposes and in a manner that is consistent with land-use planning, investment project and agreement specified in the contract;

b) Request the Lessee to pay the rent by the deadline with the method under the contract;

c) Request the Lessee to terminate the improper use of land, land destruction or land deterioration; if the Lessee has not stopped committing violations, the Lessor is entitled to unilaterally terminate the contract execution and request the Lessee return the land and pay compensation for damage;

d) Request the Lessee to return the land when the lease term expires;

dd) Request the Lessee to pay compensation for damage caused by the Lessee’s fault;

e) Other rights agreed upon by the parties (if any): (these agreements may not go against the law and morality)………..

The rights shall be specified according to Article 37 of the Law on Real Estate Business in case of sublease.

2. Obligations of Lessor

a) Provide sufficient and truthful information about the land use rights and take responsibility for information supplied;

b) Transfer the proper area, location and existing status of land as specified in the contract to the Lessee;

c) Register the lease of land use rights;

d) Check and warn the Lessee about protection and proper use of land;

dd) Fulfill financial obligations to the State according to regulations of law;

e) Notify the Lessee of rights of a third person to the rental land;

g) Pay compensation for damage caused by their faults;

h) Other obligations agreed upon by the parties (if any): (these agreements may not go against the law and morality)………..

The obligations shall be specified according to Article 37 of the Law on Real Estate Business in case of sublease.

Article 7. Rights and obligations of Lessee

1. Rights of Lessee

a) Request the Lessor to provide sufficient and truthful information about the land use rights;

b) Request the Lessor to transfer the proper area, location and existing status of land as specified in the contract;

c) Use the rental land within agreed lease term;

d) Use the rental land and enjoy achievements and investment results on the rental land;

dd) Request the Lessor to pay compensation for damage caused by the Lessor’s faults;

e) Right of sublease (if any);

g) Other rights agreed upon by the parties (if any): (these agreements may not go against the law and morality)………..

2. Obligations of Lessee

a) Use the land for proper purposes, boundaries, and lease term;

b) Do not deteriorate the land;

c) Pay rents in full by the deadline with the method under the contract;

d) Comply with regulations on environment protection; do not prejudice legitimate rights and interests of surrounding land users;

dd) Return the land by the expiry of lease term with the existing status specified in the contract;

e) Pay compensation for damage caused by their faults;

g) Other obligations agreed upon by the parties (if any): (these agreements may not go against the law and morality)………..

Article 8. Liabilities for breaches of contract

1. Liabilities of the Lessor for breaches of contract: ...............................

2. Liabilities of the Lessee for breaches of contract: ...............................

3. Other agreements of the parties (if any): (these agreements may not go against the law and morality) ........................................................................................................................

Article 9. Commitments of the parties

1. The Lessor commits that:

a) Each land use right mentioned in Article 1 of this contract is not prohibited from lease according to regulations of law;

b) Each land use right mentioned in Article 1 of this contract is established in accordance with the planning, design and approved drawings provided for the Lessee;

c) Other commitments agreed upon by the parties (if any): (these agreements may not go against the law and morality)………..

2. The Lessee commits that:

a) They have researched and carefully considered information about the leased land use rights;

b) They have been provided by the Lessor with copies of necessary documents and information related to the land use rights, the Lessee has carefully read and understood the terms and conditions of this contract and Appendixes hereto.   The Lessee has investigated all issues that the Lessee deems necessary to check the accuracy of such documents and information;

c) The rent under this contract is legal without any dispute with the third party.  The Lessor is not required to be liable for any dispute over the amount that the Lessee has paid to the Lessor under this contract. In the event of a dispute over this amount, this contract will still be valid for both parties;

dd) Other commitments agreed upon by the parties (if any): (these agreements may not go against the law and morality)………..

3. The parties have voluntarily signed this contract without coercion or deception.

4. In case one or more articles, clauses and points in this contract are declared null and void, invalid or unenforceable by a competent regulatory agency in accordance with applicable law, other articles, clauses and points of this contract are still valid for both parties.  The two parties will agree to amend articles, clauses and points that are declared null and void or invalid or unenforceable according to regulations of law and in accordance with the will of the two parties.

5. The two parties commit to comply with the agreements specified in this contract strictly.

6. Other agreements of the parties (if any): (these agreements may not go against the law and morality) ........................................................................................................................

Article 10. Cases of termination of the contract

1. Cases of termination of the contract:

a) The parties agree to terminate the contract. In this case, the parties shall reach an agreement on conditions and time for termination of the contract;

b) The Lessee delays the payment of the land use right rent as agreed in Article 3 of this contract;

c) The Lessor delays the land use right handover as agreed in the Article 6 of this contract;

d) In case the affected party cannot remedy the force majeure event to continue performing their obligations within ... days, from the date on which the force majeure event occurs and both parties do not have other agreements, either party has the right to terminate this contract unilaterally and such termination shall not be considered a breach of contract.

2. The handling of consequences due to termination of the contract according to Clause 1 of this Article such as: refund of land use right rent, interest calculation, fines and compensation ............ shall be specifically agreed upon by the two parties.

3. Other agreements of the parties (if any): (these agreements may not go against the law and morality) ........................................................................................................................

Article 11. Force majeure events

1. The parties agree that one of the following cases shall be considered a force majeure event:

a) Due to war or natural disasters or changes in legal policies of the State;

b) Due to the execution of decisions of competent regulatory agencies or other cases prescribed by law;

c) Due to an accident or illness requiring emergency treatment at a medical facility;

d) Other agreements of the parties (if any): (these agreements may not go against the law and morality) ........................................................................................................................

2. Any case of solely financial hardship will not be considered a force majeure event.

3. Upon occurrence of one of the force majeure events as agreed in clause 1 of this Article, the party affected by the force majeure event must notify in writing or directly notify the other party within ... days, from the date of force majeure event (if there are documents proving the reason for force majeure, the affected party must present these documents). The failure of the party affected by a force majeure event to fulfill their obligations will not be considered a breach of its contractual obligations and will not serve as a basis for the other party to have the right to terminate this contract.

4. The fulfillment of contractual obligations of the parties will be suspended during the time of force majeure events. The parties will continue to fulfill their obligations after the force majeure event ends, except for the case specified at point d, clause 1, Article 11 of this contract.

5. Other agreements of the parties (if any): (these agreements may not go against the law and morality) ........................................................................................................................

Article 12. Notification

1. Address for the parties to receive notification from the other party (specify for the Lessor, for the Lessee): ......................................................................

...................................................................................................................................

2. Form of notification between the parties (via Fax, mail, telegram, direct delivery): ..........

...................................................................................................................................

3. The notification-receiving party (if there are many people who lease the land, 01 representative shall be appointed to receive the notification) is:  ...............................................

4. Any notification, request, information, or claim in connection with this contract shall be made in writing. The two parties agree that the notification, requests and complaints are considered received if they are sent to the correct address, the correct name of the recipient of the notification, and the correct form of notification as agreed in Clauses 1, 2 and 3 and within the time as follows:

a) On the date of delivery in case of a hand-delivered letter signed by the recipient of the notification;

b) On the date the sender receives the notification of successful fax transmission in case the notification is sent by fax;

c) On …………, from the date of postmark in case the notification is sent by express mail;

d) Other agreements of the parties (if any): (these agreements may not go against the law and morality) ........................................................................................................................

5. The parties shall notify each other in writing if there is a request to change the address, form and name of the recipient of the notification; if there is a change in (address, form, name of the recipient of the notification as agreed upon by the parties ..................) but the party with the change fails to notify it to the other party, the party sending the notification is not responsible for the fact that the other party does not receive the written notification.

Article 13. Other agreements

In addition to the agreements mentioned in the articles, clauses and points in this contract, the two parties may agree on other issues, but the issues further agreed upon by the two parties in this article as well as in other articles, clauses and other points in this entire contract shall not be contrary to the agreements specified in this contract and shall be in accordance with the law and morality.

Article 14. Settlement of disputes

The parties shall be responsible for agreeing on the method and form of settlement of the dispute over the contents of the contract when a dispute arises and choosing........ (Court agency) for settlement in accordance with the law when the two parties cannot reach an agreement on the settlement.

Article 15.  Effective date of contract

1. This contract comes into force from ……..

2. This contract contains….. Articles, with ................. pages, is made into.. ........ copies that have the same legal validity, the Lessee keeps ................. copy (copies), the Lessor keeps .................. copy (copies) for storage and implementation of procedures for paying taxes, fees and charges as prescribed by law.

3. Attached to this contract are land-related documents such as .....................

The appendices attached to this contract and the amendments and supplements agreed by the two parties are integral to this contract and enforceable for both parties.

4. In case the parties agree to change the contents of this contract, it must be made in writing with signatures of both parties.

 

LESSEE (Signature and full name, seal and position of signatory in case of an organization)

LESSOR (Signature, full name, position of signatory, seal)

____________________

 ¹ Specify the bases related to the lease of land use rights.  In case the State amends or replaces the legal documents stated in the base part of this contract, the Lessor shall write down the number and name of the new document that has been changed.

² Specify information about the organization in case of an organization; specify information about the individual in case of an individual, if there are many individual lessees under the contract, this section must include full information about the individuals who jointly receive the lease of land use rights; there is no need to include the Certificate of Enterprise Registration/Certificate of Investment Registration, the legal representative of the enterprise.

³ Insert the number of Certificate of enterprise registration/certificate of investment registration in case of an organization.

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